Practice question
A stockholder files suit five months after a delinquency sale solely alleging defective sale notice. The stockholder has neither paid nor tendered the sale amount plus legal interest to the holder and insists filing within six months alone satisfies Section 68. Which is best?
- Timely filing alone satisfies every statutory requirement
- Section 68 also requires the specified prior payment or tender; timely filing does not replace it
- No challenge is ever allowed
- Any complaint filed within twenty years is sufficient
- The court must award the stock without examining the statute
Legal references
- RA11232, Section 68: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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